H.Con.Res.37 - Establishing the budget for the United States Government for fiscal year 2012 and setting forth appropriate budgetary levels for fiscal year 2011 and fiscal years 2013 through 2021.112th Congress (2011-2012)

Prescribes requirements for legislation reported out of committee and designated as an emergency requirement.

Requires the Joint Committee on Taxation to calculate the impact of any proposal to change federal revenues on Gross Domestic Product (GDP), total domestic employment, and other specified economic variables.

Prohibits the chairman of the House Committee on the Budget from taking into account the provisions of any piece of legislation which propose to increase revenue or offsetting collections if the net effect of the bill is to increase the level of revenue or offsetting collections beyond the level assumed in this budget resolution.

Requires the chairman to maintain a Budget Protection Mandatory Account and a Budget Protection Discretionary Account.

Expresses the sense of the House regarding: (1) baseline revenue projections, and (2) long-term budget projections.

Establishes an earmark moratorium for FY2011-FY2012 for legislation providing or authorizing discretionary budget authority, credit or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in FY2011-FY2012. Prohibits the House Committee on Rules from reporting a rule or order waiving such moratorium.

Declares the policy of this resolution on: (1) health care law repeal, (2) bailouts of state and local governments, (3) means-tested welfare programs, and (4) reforming the federal budget process.